China Minzhong Food Corp Ltd plans to raise up to $186.6 million in an initial public offering of shares in Singapore, according to a term sheet.
The Fujian province-based food processor is offering 197.34 million shares, comprising 61 percent primary shares and 39 percent secondary shares, with an indicative price range of S$1.07-S$1.33 each. Trading is scheduled to start on April 8.
J.P. Morgan is handling the deal, the term sheet obtained by Reuters on Friday showed.
In October last year, sources said Minzhong, backed by Singapore’s GIC and buyout fund Olympus Capital, had hired JP Morgan for its share offering.